Satyam Computer Services has returned to the Australian Courts to again contest Australia’s taxing rights over fees paid by Australian customers for IT/technical services performed by Satyam employees based in India.
After careful deliberation, the Bill limiting access to the Small Business Capital Gains Tax (CGT) Concessions, Treasury Laws Amendment (Tax Integrity and Other Measures), was passed in Parliament on 20 September 2018.
The Australian Treasury released a discussion paper in early October 2018 to inform a consultation about whether, and if so, how Australia could introduce an ‘interim measure’ to tax sectors of the digital economy.
In late 2017, the Australian Federal Government introduced an annual vacancy fee to be levied on foreign owners of residential property, where the property is not occupied or generally available on the rental market for at least 6 months in a 12 month period.
Following the proposal for reduced tax rates for corporate entities in 2016, the Treasury Laws Amendment (Enterprise Tax Plan No 2) Bill 2017 (the Bill) was ultimately defeated in the Senate on 23 August 2018 by a vote of 36 to 30.